An opportunity has arisen to rent this commercial unit situated in the heart of Lancaster city centre and with windows facing both the main road and the pedestrian area of Sir Simons Arcade. Available on a 5 year or 10 year lease with option for a break clause after 2 years.
Comprises: 2 large window displays, shop floor area, W.C., kitchenette and store room. Class A1 Usage.
Annual Rent: £10,500
Business Rates: £10,500 per annum (info provided by the landlord)
Ground Floor, 15 King Street, Lancaster, LA1 1JN
The property is situated on King Street, on the entrance to Sir Simons Arcade. Other occupiers in the immediate vicinity include high quality independent traders and in addition to this the property is immediately opposite the Primark store and Market Gate shopping centre.
The premises comprise the ground floor only of what is a three storey building being of traditional stone construction beneath a slated roof. The property comprises prominent frontage to King Street and return frontage to the arcade.
The premise is currently used as an electrical retailer. The property was extensively refurbished circa 2012 providing quality accommodation.
Ground Floor retail unit
Kitchenette and Staff W.C. facilities to the rear of the shop
A commencing rental of £10,500 per annum exclusive of rates and service charge.
All Landlord's reasonable legal costs incurred in the preparation of the lease are to be borne by the ingoing Tenant
Applicants are advised to make their own enquiries of the local rating authority
N.B. Under the current business rate regime, it is likely that a qualifying occupier of the subject property would benefit from small business rate relief, meaning that zero rates would be payable. Further details available from Lancaster City Council.
Mains water, electricity and drainage are all connected to the property.
The premises are available by way of a new lease for a term to be negotiated, subject to three-yearly, upward only rent reviews, on a full repairing and insuring basis.
A deposit will be required to be paid by the ingoing Tenant on. The deposit will be equivalent to one quarter's rent.